Post by crowell on Feb 19, 2013 6:46:37 GMT -8

Well, at least we know the market rate. $550.00 for a GA ticket. There appear to be only 22 at this price right now.

I suspect the real value to this is not in primary sales, but in holding down the secondary market. If ticket prices on the secondary market are allowed to get too high it will drive up counterfeit tickets and secondary market flippers - those that buy tickets at a premium and re-sell them at an even higher premium.

And if you think about it, they sold tickets at $300, then $337, and now $550. Not scalping. Just market inflation.

Post by Cysquatch on Feb 19, 2013 7:39:26 GMT -8

And if you think about it, they sold tickets at $300, then $337, and now $550. Not scalping. Just market inflation.

That is quite a fucking leap for prices that were already fairly high. I think if they are going to sell them with a label like "Platinum", there should be some VIP perks attached. They just sell you a regular wrist band at 40% markup and call it Platinum, because it cost more.

Post by Drew on Feb 19, 2013 9:39:30 GMT -8

I was thinking about this the other day: what if a festival did the opposite of the typical pricing structure, and sold the most expensive tickets first, then slowly reduced prices until they sold out. Like, Coachella tickets starting at $800, they would probably sell out at like $550 - you would be gambling if you waited for them to get too low.

I'm not saying this is a good idea, or an ethical idea, or practical, or suggesting it. I was just thinking of it and thought it would be a crazy scenario that would create some serious pandemonium.

Post by crowell on Feb 19, 2013 9:48:20 GMT -8

I was thinking about this the other day: what if a festival did the opposite of the typical pricing structure, and sold the most expensive tickets first, then slowly reduced prices until they sold out. Like, Coachella tickets starting at $800, they would probably sell out at like $550 - you would be gambling if you waited for them to get too low.

I'm not saying this is a good idea, or an ethical idea, or practical, or suggesting it. I was just thinking of it and thought it would be a crazy scenario that would create some serious pandemonium.

Burning Man has been playing with a version of this. Some tickets went early for about 180%, then they went down from there. Last year they had a combo pemium sale and lottery. It seems I recall the lottery allowed you to enter at three price points. If you entered at the higest, you were entered into all three price points, but they drew the lottery from the higest bidders first. Then they drew from the middle. If you won on the highest, you were out (you had tickets after all).

Best chance to win: Bid for the highest tier. You got entered into all three rounds of drawing. Rumors were in the highest tier 50% got tickets and in lowest tier only 1 in 5 got tickets.

Post by davers on Feb 19, 2013 10:15:01 GMT -8

Wow, that is a straight up 'Fuck you' to everyone without tickets.

"Are OFFICIAL PLATINUM GA TICKETS resale tickets?No. OFFICIAL PLATINUM GA TICKETS were not purchased initially and then posted for resale; they are being sold for the first time through Live Nation Concerts. Live Nation Concerts's OFFICIAL PLATINUM GA TICKETS program enables market-based pricing (adjusting prices according to supply and demand) for live event tickets, similar to how airline tickets and hotel rooms are sold. The goal is to give the most passionate fans fair and safe access to the best tickets, while enabling artists and other people involved in staging live events to price tickets closer to their true value."

Translation: Rich folk only.

It makes sense from a business point of view but holy shit does it make them look greedy.

Post by crowell on Feb 19, 2013 12:20:58 GMT -8

Look at what this does though. It keeps the scalpers at $550 or below. This is only 22 tickets and it forces all scalpers to drop their price to well below this price point. I don't think the goal was to sell a bunch of $550 tickets. I think the goal was to keep scalpers from selling $800 tickets. I say smart move LiveNation.

Post by StormyPinkness on Feb 19, 2013 13:10:29 GMT -8

Well, at least we know the market rate. $550.00 for a GA ticket. There appear to be only 22 at this price right now.

I suspect the real value to this is not in primary sales, but in holding down the secondary market. If ticket prices on the secondary market are allowed to get too high it will drive up counterfeit tickets and secondary market flippers - those that buy tickets at a premium and re-sell them at an even higher premium.

And if you think about it, they sold tickets at $300, then $337, and now $550. Not scalping. Just market inflation.

It is still scalping. They are making a profit on after market tickets.